Sports Betting Glossary - P

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Payoff - The winnings on your bet.

Place - Applies to Tournament-type bets only, where a set number of valid places are declared by the bookmaker (e.g. first, second and third), and your place bet will win if your selection comes within this range.

Pointspread - Applies to US sports. The pointspread is the advantage given to the underdog, and the disadvantage attached to the favourite, in order to even up the outcome of the event and give the bet more value.

Pony - Bookmakers' slang for £25.

Price - The odds or the line.

Punter - A member of the public who places bets.

Push - A tie or a draw. There is no winner, therefore all bets become void and the stakes are returned.

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